
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC2072]

 
                       TITLE 12--BANKS AND BANKING
 
                     CHAPTER 23--FARM CREDIT SYSTEM
 
                 SUBCHAPTER II--FARM CREDIT ASSOCIATIONS
 
                 Part A--Production Credit Associations
 
Sec. 2072. Board of directors

    Each production credit association shall elect from the voting 
members of such association, a board of directors of such number, for 
such terms, with such qualifications, and in such manner as may be 
required by the bylaws of the association, except that at least one 
member shall be elected by the other directors, which member shall not 
be a director, officer, employee, stockholder, or agent of a System 
institution.

(Pub. L. 92-181, title II, Sec. 2.1, as added Pub. L. 100-233, title IV, 
Sec. 401, Jan. 6, 1988, 101 Stat. 1630; amended Pub. L. 100-399, title 
IV, Sec. 401(n), Aug. 17, 1988, 102 Stat. 997; Pub. L. 102-237, title V, 
Sec. 502(c), Dec. 13, 1991, 105 Stat. 1868.)


                            Prior Provisions

    A prior section 2072, Pub. L. 92-181, title II, Sec. 2.1, Dec. 10, 
1971, 85 Stat. 591; Pub. L. 96-592, title II, Sec. 201, Dec. 24, 1980, 
94 Stat. 3439; Pub. L. 99-205, title II, Sec. 205(e)(1), Dec. 23, 1985, 
99 Stat. 1704; Pub. L. 100-233, title VII, Sec. 705(c), title VIII, 
Secs. 802(i), 805(d), Jan. 6, 1988, 101 Stat. 1707, 1711, 1715; Pub. L. 
100-399, title VI, Sec. 604, title IX, Sec. 901(b), Aug. 17, 1988, 102 
Stat. 1006, 1007, related to corporate existence and general corporate 
powers, prior to the general amendment of this subchapter by Pub. L. 
100-233, Sec. 401.


                               Amendments

    1991--Pub. L. 102-237 substituted ``stockholder, or agent'' for ``or 
stockholder''.
    1988--Pub. L. 100-399 struck out the comma after ``except that''.


                    Effective Date of 1988 Amendment

    Amendment by Pub. L. 100-399 effective immediately after amendment 
made by section 401 of Pub. L. 100-233, which was effective 6 months 
after Jan. 6, 1988, see section 1001(b) of Pub. L. 100-399, set out as a 
note under section 2002 of this title.
